Endo International PLC (ENDP) Upgraded to Buy at Zacks Investment Research
Endo International PLC (NASDAQ:ENDP) (TSE:ENL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm presently has a $9.75 price target on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 13.37% from the company’s current price.
According to Zacks, “Endo’s top line should continue to benefit from robust performance of Xiaflex and sterile injectables. Endo has centralized and streamlined its supply chain, quality and compliance organization in order to create a more cohesive and efficient structure. The company plans to close its Huntsville, Alabama manufacturing and distribution facilities over the next 12 to 18 months due to declining volumes of commoditized products that affected the Huntsville location. The company expects to transfer majority of the products to other sites while discontinuing approximately 15 products starting in the fourth quarter of 2017 and continuing through 2018. This restructuring is intended to better match manufacturing capacity to projected future demand. However, headwinds in the form of declining generics base business and the legacy branded pain franchise remain. Shares have significantly underperformed the industry so far in 2017.”
A number of other research firms have also recently commented on ENDP. William Blair reaffirmed a “market perform” rating on shares of Endo International PLC in a report on Wednesday, June 14th. BidaskClub cut shares of Endo International PLC from a “hold” rating to a “sell” rating in a report on Thursday, June 15th. Cantor Fitzgerald began coverage on shares of Endo International PLC in a report on Friday, June 16th. They set a “neutral” rating and a $12.00 target price on the stock. Guggenheim began coverage on shares of Endo International PLC in a report on Saturday, June 17th. They set a “hold” rating and a $12.00 target price on the stock. Finally, Deutsche Bank AG lowered their target price on shares of Endo International PLC from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, July 7th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $12.64.
Shares of Endo International PLC (NASDAQ ENDP) traded up 0.826% during midday trading on Wednesday, hitting $8.671. The company had a trading volume of 2,559,390 shares. Endo International PLC has a one year low of $7.41 and a one year high of $21.87. The stock’s 50-day moving average price is $8.69 and its 200-day moving average price is $10.60. The stock’s market capitalization is $1.94 billion.
Endo International PLC (NASDAQ:ENDP) (TSE:ENL) last posted its earnings results on Tuesday, August 8th. The company reported $0.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.19. Endo International PLC had a negative net margin of 126.93% and a positive return on equity of 37.58%. The firm had revenue of $875.73 million for the quarter, compared to analysts’ expectations of $832.66 million. During the same quarter last year, the firm earned $0.86 EPS. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. Analysts predict that Endo International PLC will post $3.52 EPS for the current year.
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In other Endo International PLC news, CFO Blaise Coleman acquired 6,500 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were acquired at an average price of $7.89 per share, for a total transaction of $51,285.00. Following the completion of the acquisition, the chief financial officer now owns 13,729 shares in the company, valued at $108,321.81. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Terrance J. Coughlin acquired 20,000 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was acquired at an average price of $7.70 per share, for a total transaction of $154,000.00. Following the acquisition, the chief operating officer now owns 181,369 shares of the company’s stock, valued at approximately $1,396,541.30. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 36,000 shares of company stock worth $279,460. Corporate insiders own 0.50% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in ENDP. Diamond Hill Capital Management Inc. purchased a new stake in Endo International PLC in the second quarter worth about $5,454,000. Ameriprise Financial Inc. grew its holdings in Endo International PLC by 685.0% in the first quarter. Ameriprise Financial Inc. now owns 554,138 shares of the company’s stock worth $6,185,000 after purchasing an additional 483,545 shares during the period. American International Group Inc. grew its holdings in Endo International PLC by 451.5% in the first quarter. American International Group Inc. now owns 396,887 shares of the company’s stock worth $4,429,000 after purchasing an additional 324,922 shares during the period. Canada Pension Plan Investment Board grew its holdings in Endo International PLC by 93.4% in the second quarter. Canada Pension Plan Investment Board now owns 565,240 shares of the company’s stock worth $6,314,000 after purchasing an additional 273,024 shares during the period. Finally, Sivik Global Healthcare LLC purchased a new stake in Endo International PLC in the second quarter worth about $2,793,000. Institutional investors and hedge funds own 90.71% of the company’s stock.
About Endo International PLC
Endo International PLC, formerly Endo Health Solutions Inc is a specialty healthcare solutions company focused on branded and generic pharmaceuticals, devices and services. The Company has a portfolio of branded pharmaceuticals that includes brands, such as Lidoderm, Opana ER, Voltaren Gel, Percocet, Frova, Supprelin LA, Vantas, Valstar and Fortesta Gel.
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